I got a call today from a real estate investor with more than 4 investment properties but less than 10. He had always kept his eye on the 10 number. But as most of you know the bar got lowered to 4.
So I will pose the question to you and your vast RE.net wisdom. What’s this real estate investor to do to stay with his plan of acquiring one property a year?
He could go to some smaller, local banks for financing. You’ll often find they’re much more willing to work with you as an individual rather than try to cram you into Fannie’s or Freddie’s box.
He could also look at bundling some of his residential loans together into bigger commercial loans.
Or consider alternative buying methods, like owner financing. Today’s sellers are more willing than they were before to consider alternatives to sellling outright for cash, just to get the monkey off their back.
Just a few quick thoughts…
…jp
Mabye he needs more training.
sounds like he is having some growing pains. There are many ways to build real estate investment portfolio. He could always owner finance with specific properties. Also, he could consider creating small investment group with outsider investors. We’ve bought over 200 investment properties over the past couple of decades. Best advice is to start with what you can afford and increase investment niche as you grow. He can base his investment strategy and goals on his current cash flow. You can make just as much money off a 20K wood frame home as a 200K home given the right property and price.
Kenneth Cox
Okay. So nothing new here that I’ve been missing out on. For those of you who don’t know, I specialize with investment property.
Yes, I know about owner finance and bundeling loans. As far as “needs more training”, I’m not sure what that means.
Most of my clients are not of the turn & burn variety. Nor are they willing to own low priced homes in non-appreciating neighborhoods. They are generally professionals in another field and are looking to grow a retirement, not a current income.
Thanks for your input!
Mabye he needs more training.